The Persistence of Socialism
Economic Update with Richard D. Wolff
Democracy at Work
4.8 • 1.9K Ratings
🗓️ 10 December 2024
⏱️ 31 minutes
🧾️ Download transcript
Summary
In this week’s episode of Economic Update, Professor Wolff dives deep into why socialism remains a popular and successful economic system. Professor Wolff highlights new laws passed by the government of Spain that punish airline companies who employ 'unjustified' airline passenger fees. We then debunk the unsubstantiated and nonsensical myth we hear so often that: 'Socialism has never worked,' and finally we juxtapose the history of the last capitalist collapse (1930s Great Depression) when the US working class turned left versus the current crisis of US capitalism when the initial turn of the working class is to the right.
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Transcript
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| 0:00.0 | Welcome, friends to another edition of Economic Update, a weekly program devoted to the economic |
| 0:26.6 | dimensions of our lives and those of our children. |
| 0:30.3 | I'm your host, Richard Wolfe. |
| 0:33.7 | Remember, please, that Charlie Fabian is available to take your suggestions, ideas, proposals, |
| 0:40.1 | complaints about the show. |
| 0:43.5 | That makes it easier for us to do a better job. |
| 0:46.6 | You can reach him at Charlie.info-3-8 at gmail.com. |
| 0:53.8 | Charlie. .info-338 at gmail.com. Charlie.info-338 at gmail.com. |
| 0:59.3 | And again, our newly released book, Understanding Capitalism, available at our website, |
| 1:06.6 | Democracy at Work.info. |
| 1:09.3 | Is it really good companion reading for what this course, excuse me, |
| 1:15.6 | this program delivers. We use the materials gathered in that book to organize and structure |
| 1:24.3 | the segments of analysis we do on this show. |
| 1:28.3 | And vice versa, what's in that book is the distilled understanding of the capitalist system |
| 1:35.3 | that working all these years on all these programs has enabled us to put together. |
| 1:42.2 | So if you like the program, I think you'll like the book. |
| 1:46.5 | Okay. Today's subject matter is called the persistence of socialism. And you'll see what |
| 1:58.4 | we mean by that as we go through it. |
| 2:01.7 | But we'll have three segments, one of them about a recent event, and the other two more |
| 2:09.7 | theoretical in one case and more historical in the other. |
| 2:13.9 | But the idea behind it all is the persistence of socialism. |
| 2:20.4 | So let's begin. |
... |
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